Bankruptcy of U.S. is ‘Mathematical Certainty,’ Says Professor & Former CEO of Nation

[Bones]

Bankruptcy of U.S. is ?Mathematical Certainty,? Says Former CEO of Nation's 10th Largest Bank | CNSnews.com

John Allison, who for two decades served as chairman and CEO of BB&T, the nation's 10th largest bank, told CNSNews.com it is a “mathematical certainty” that the United States government will go bankrupt unless it dramatically changes its fiscal direction

Time to Ragnarok n' roll, baby.

 

[R.C. Christian]

Ragnarock? That sounds familiar. What is that from?

We're already bankrupt so I guess the prof means our ability to pay back our debt is unsustainable. Well no kidding.

 

[drube]

These guys are economic terrorists.Bankers. The gov needs to cease the banks and cut the debt to zero by book keeping entry and start all over.

 

[Quantum Windbag]

These guys are economic terrorists.Bankers. The gov needs to cease the banks and cut the debt to zero by book keeping entry and start all over.

Not only is your grammar atrocious, so is your logic.

 

[william the wie]

Most nations are belly up from housing bubbles and the ones that aren't are headed that way. China, Australia and Canada will probably blow up this year. In the last 7 years China has had zero non-construction GDP growth. And the construction sector was 33% of GDP in 2003 more than double what was seen in the US during the 2004-6 boom now at 60% of GDP it is four times as big. When that baby pops it will make the meltdown look like a tea party.

 

[KissMy]

New York Times - Plans being drawn up to let states declare bankruptcy

Policy makers are working behind the scenes to come up with a way to let states declare bankruptcy and get out from under crushing debts, including the pensions they have promised to retired public workers.

Unlike cities, the states are barred from seeking protection in federal bankruptcy court. Any effort to change that status would have to clear high constitutional hurdles because the states are considered sovereign.

But proponents say some states are so burdened that the only feasible way out may be bankruptcy, giving Illinois, for example, the opportunity to do what General Motors did with the federal government’s aid.

So much for the "Great Society"

 

[Care4all]

gotta cut spending big time and raise taxes to pay for the last decade of debt accrued....

 

[uscitizen]

Yep Care, but the republican led congress only wants to do half of that.

And that is part of what got us into that issue. Cut taxes and increase spending.

 

[Care4all]

Yep Care, but the republican led congress only wants to do half of that.

And that is part of what got us into that issue. Cut taxes and increase spending.

yep and this will bankrupt us....

first with crappy credit rating when we show no effort to raise taxes to pay for our accrued debt incurred, then with higher interest rates cuz of the crappy rating, then the bankruptcy....

 

[KissMy]

Yep Care, but the republican led congress only wants to do half of that.

And that is part of what got us into that issue. Cut taxes and increase spending.

yep and this will bankrupt us....

first with crappy credit rating when we show no effort to raise taxes to pay for our accrued debt incurred, then with higher interest rates cuz of the crappy rating, then the bankruptcy....

Greedy Bankers will love those higher interest rates though. Big Debts + High Interest Rates = Big Win for Big Bankers & Big Taxes for the rest of US Slaves.

 

[Zander]

We'll get the job done. This is America.


Disagree? **** off.

 

[KissMy]

Obama to Push New Spending in State of the Union - WSJ.com

President Barack Obama will call for new government spending on infrastructure, education and research in his State of the Union address Tuesday, sharpening his response to Republicans in Congress who are demanding deep budget cuts, people familiar with the speech said.

Your $1 TRILLION stimulus was supposed to do that, remember? What of the $9 Trillion bailout of Wall Street?

Lets just keep on digging the hole deeper & deeper.

 

[Bones]

We'll get the job done. This is America.


Disagree? **** off.

We'll rebuild as soon as it's possible to do so. This is the Roman Empire.

Disagree? **** off.

 

[william the wie]

With Pelosi out of power and Reid greatly diminished there's a good chance that the GOP can keep Obama from going off the deep end and vice versa plus several other things breaking right that appear to be headed in the right. However the country will have a near death experience or two before the next election.

 

[editec]

It WOULD BE a mathamatic certainty (perhaps, I have not actually done the math) IF the value of money wasn't so easily manipulated.

However as long as our government can deflate the purchasing power of money, they can always print their way out of debt (if they choose...they almost never choose to do that, however, since they're usually taking their orders from the Banksters)

 

[rytis]

These guys are economic terrorists.Bankers. The gov needs to cease the banks and cut the debt to zero by book keeping entry and start all over.

And anyone who claims other wise is a traitor to America IMO

 

[damien275x]

We'll get the job done. This is America.


Disagree? **** off.

LOL

This is precisely the attitude that got USA into this fucked up mess to begin with. "We're big, we're above everyone else" You aren't above the laws of maths and physics. If you throw a ball up, it will fall to the ground. If you get in over your head with debt, you go bankrupt. Simple as that mate...

 

[konkon]

The US can't get bankrupt. It can't work that way. Other countries can.

 

[KissMy]